Hammerson Plc

ISE:HMSO Stock Report

Market Cap: UK£1.4b

Hammerson Valuation

Is HMSO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of HMSO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HMSO (£3.3) is trading above our estimate of fair value (£1.94)

Significantly Below Fair Value: HMSO is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HMSO?

Key metric: As HMSO is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for HMSO. This is calculated by dividing HMSO's market cap by their current revenue.
What is HMSO's PS Ratio?
PS Ratio6.1x
SalesUK£229.90m
Market CapUK£1.39b

Price to Sales Ratio vs Peers

How does HMSO's PS Ratio compare to its peers?

The above table shows the PS ratio for HMSO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average6.5x
IRES Irish Residential Properties REIT
5.3xn/a€461.3m
SK6U Paragon REIT
8.5x2.7%S$2.5b
CRR.UN Crombie Real Estate Investment Trust
5.7x3.1%CA$2.6b
3292 AEON REIT Investment
6.4x1.3%JP¥268.5b
HMSO Hammerson
6.1x2.3%UK£1.4b

Price-To-Sales vs Peers: HMSO is good value based on its Price-To-Sales Ratio (6.1x) compared to the peer average (6.5x).

Price to Sales Ratio vs Industry

How does HMSO's PS Ratio compare vs other companies in the European Retail REITs Industry?

0 CompaniesPrice / SalesEstimated GrowthMarket Cap
HMSO 6.1xIndustry Avg. 5.7xNo. of Companies8PS03.26.49.612.816+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: HMSO is expensive based on its Price-To-Sales Ratio (6.1x) compared to the European Retail REITs industry average (5.8x).

Price to Sales Ratio vs Fair Ratio

What is HMSO's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HMSO PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio6.1x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate HMSO's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst HMSO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£3.30
UK£3.08
-6.6%
17.3%UK£4.27UK£1.80n/a14
Nov ’25UK£3.30
UK£3.01
-8.7%
22.5%UK£4.26UK£1.50n/a14
Oct ’25UK£3.16
UK£2.90
-8.2%
26.0%UK£4.26UK£1.50n/a13
Sep ’25UK£1.96
UK£2.68
+36.6%
25.6%UK£3.70UK£1.50n/a13
Aug ’25UK£2.04
UK£2.68
+31.1%
24.9%UK£3.70UK£1.50n/a14
Jul ’25UK£2.04
UK£2.68
+31.1%
25.1%UK£3.70UK£1.50n/a14
Jun ’25UK£2.04
UK£2.64
+29.6%
27.5%UK£3.70UK£1.40n/a14
May ’25UK£2.04
UK£2.66
+30.3%
27.6%UK£3.70UK£1.40n/a14
Apr ’25UK£2.12
UK£2.66
+25.3%
27.6%UK£3.70UK£1.40n/a14
Mar ’25UK£2.12
UK£2.61
+23.2%
29.4%UK£3.70UK£1.30n/a14
Feb ’25UK£2.12
UK£2.61
+23.2%
27.8%UK£3.60UK£1.30n/a15
Jan ’25UK£2.12
UK£2.47
+16.5%
30.1%UK£3.60UK£1.30n/a15
Dec ’24UK£2.12
UK£2.45
+15.6%
31.6%UK£3.60UK£1.20n/a15
Nov ’24UK£2.12
UK£2.46
+15.8%
31.0%UK£3.60UK£1.20UK£3.3018
Oct ’24UK£2.12
UK£2.45
+15.6%
30.9%UK£3.60UK£1.30UK£3.1618
Sep ’24UK£2.12
UK£2.39
+12.9%
29.9%UK£3.60UK£1.20UK£1.9618
Aug ’24UK£2.20
UK£2.39
+8.5%
29.4%UK£3.60UK£1.20UK£2.0418
Jul ’24UK£2.20
UK£2.46
+11.6%
26.0%UK£3.60UK£1.50UK£2.0418
Jun ’24n/a
UK£2.48
0%
25.7%UK£3.90UK£1.50UK£2.0419
May ’24n/a
UK£2.49
0%
26.8%UK£3.90UK£1.50UK£2.0419
Apr ’24UK£2.20
UK£2.38
+8.0%
29.9%UK£3.90UK£1.50UK£2.1219
Mar ’24n/a
UK£2.39
0%
29.8%UK£3.90UK£1.50UK£2.1219
Feb ’24UK£2.76
UK£2.31
-16.4%
26.1%UK£3.90UK£1.50UK£2.1219
Jan ’24n/a
UK£2.28
0%
26.3%UK£3.90UK£1.50UK£2.1219
Dec ’23UK£2.00
UK£2.23
+11.7%
27.5%UK£3.90UK£1.50UK£2.1219
Nov ’23n/a
UK£2.15
0%
31.5%UK£3.90UK£1.50UK£2.1217

Analyst Forecast: Target price is less than 20% higher than the current share price.

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